No. 14



Run On Dubai Islamic Bank Highlights Lingering Concerns In UAE

Late on 29 March the Central Bank of the UAE and the Government of Dubai stepped in tocalm the fears of depositors at Dubai Islamic Bank (DIB). The move coincided with thearrest of several of the bank's managers in connection with an alleged fraud estimated insome quarters at Dh250-500mn. The Central Bank issued a statement through the officialnews agency, WAM, saying that it was intervening because...